DTZ, a global leader in commercial real estate services, announced today that W-EH El Dorado Holdings JV VII, LLC purchased El Dorado Tech Center, a flex/back-office facility, for $18.6 million. The buyer, a joint venture formed by Everest Holdings, LLC of Scottsdale, AZ, and Walton Street Capital, LLC of Chicago purchased the180,480 square foot property located at 2299 W. Obispo Avenue in Gilbert, AZ. The seller of the building was J.L. Bates, LLC.
DTZ Executive Managing Directors Mike Haenel and Andy Markham, SIOR, Senior Vice President Will Strong, Senior Managing Directors Paul Boyle and Rick Danis, Vice President Marc Tuite and Associate Phil Haenel facilitated both sides of the investment transaction.
Built in 1998, the property was originally 90,000 square feet, but was expanded and renovated in 2000 and 2001 to its current size. GoDaddy has been a tenant in the building since 2005, occupying ±118,000 square feet. DTZ’s Mike Haenel and Vice President Scott Baumgarten have the leasing assignment for the remaining space.